How to Set a Buyer’s Premium (Vendors Only)
A Buyers Premium is an additional amount that is charged to the winning bid to cover Auction costs including credit card transactions fees.
This amount is set as a percentage. A Buyers Premium of 15% on a Product with a winning bid of $100 will cost the winning bidder $115.00 before HST.
How to Set your Buyer’s Premium
- You should log in if you are the vendor.
- Click on “Auction Setup” in the top right menu bar.
- Click on “Menu
- Click on the Auction Setup #1 icon.
- Click on the 1-General Settings icon
- Scroll down the screen until you see the field called Buyers Premium % (Optional).
- Click on the drop down menu to pick the percentage that you want.
- You can also set a Maximum Buyers Premium per item.